The global trade management software market size was estimated at around USD 1.13 billion in 2021 and it is projected to hit around USD 3.2 billion by 2030, growing at a CAGR of 12.26% from 2022 to 2030.
Rapid changes in international trade regulations coupled with growing complexities of international trade and commerce are providing a fillip to the market.
In recent years, global exports have witnessed high growth owing to surge in consumer demand, changing demographics, and technological advancements. As a result, pressure on logistics and supply chain management is increasing, which is impelling businesses to adopt sophisticated technologies such as trade management software. As the software offers numerous advantages, including optimizing business processes, minimizing costs, and automating finance functions, the logistics and transportation industry is anticipated to adopt these solutions at a rapid pace.
An important factor that has been instrumental in promoting the implementation of trade management software and services is the integrated compliance and regulatory functions. With growing international transactions and intermittent international security hurdles, the need for adherence to policies and procedures is increasing among business operators.
While transportation and logistics is one of the largest adopters of trade management software, industries such as aerospace & defense, manufacturing, and retail are also gaining traction. Ability of these systems to provide supply chain visibility, automate processes, and document management has been an important driver in the aforementioned sectors. However, transition from legacy systems to new technologies can deter the growth of the market.
Various industries are making high IT investments in order to keep up with changing technology landscape, due to which the market for trade management software is estimated to expand in the coming years. In addition, increasing adoption by small and medium businesses coupled with high potential offered by emerging economies are projected to shape the future of the market.
Scope of The Report
Report Coverage | Details |
Market Size in 2021 | USD 1.13 billion |
Revenue Forecast by 2030 | USD 3.2 billion |
Growth rate from 2022 to 2030 | CAGR of 12.26% |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Segmentation | Component, deployment, end-user, region |
Companies Covered |
Amber Road, Inc.; The Descartes Systems Group, Inc.; Livingston International, Inc.; MIQ Logistics, LLC; and Integration Point, Inc. |
Component Insights
On the basis of components, the market has been segmented into solutions and services. The solutions segment has been further categorized into trade visibility and execution solutions, compliance solutions, and trade financial management solutions. The solutions segment forms the basis of offerings for vendors in the market, due to which it enjoys the dominant position in terms of revenue.
Services offered in the market often form the auxiliary part of the software and can be further divided into consulting and support & maintenance. The services segment is likely to exhibit a CAGR of 10.21% over the forecast period.
Deployment Insights
In 2021, the on-premise segment held the leading share in the global trade management software market. This can be attributed to a large number of organizations using legacy systems to manage their business processes. Concerns regarding data security and integrity are also playing a vital role in the adoption of on-premise solutions.
Cloud deployment comprises of software-as-a-service (SaaS) that allows central management of processes and on-demand subscription model that charges customers based on a number of subscriptions. Cloud deployment provides a high level of operational agility at lower costs, which has been instrumental in its growing adoption among small and medium enterprises. As a result, the segment is projected to progress at an impressive CAGR of 10.7% over the forecast period.
End-use Insights
Transportation and logistics registered the highest adoption of trade management software in 2021. The growth of the segment can be attributed to the soaring need for end-to-end visibility into in-transit shipments along with maintaining a single source of record. The segment is expected to maintain its lead throughout the forecast period. The manufacturing segment closely follows the transportation and logistics segment.
In terms of revenue, retail is anticipated to post the highest CAGR during the forecast period. Shifting focus from sole revenue generation to automated operations, online documentation, pipeline visibility, and customer satisfaction are fueling the adoption of trade management software in the sector.
Regional Insights
In terms of regions, North America led the market in 2021 and is estimated to show the same trend over the forecast period. North America has emerged as an industry leader owing to the presence of a large number of mature wells and large-scale development of unconventional energy resources in the region.
North America was followed by the Asia Pacific, which accounted for around 26.1% of the total market revenue in 2021. Burgeoning trade, mainly in China, Japan, and India, coupled with increasing adoption of cloud-based technologies is providing a tremendous boost to the regional market. Rising concerns regarding automated inventory tracking, filing, and reporting with risk assessment and security programs are augmenting the adoption of trade management software in the region.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Trade Management Software Market
5.1. COVID-19 Landscape: Trade Management Software Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Trade Management Software Market, By Component
8.1. Trade Management Software Market, by Component, 2022-2030
8.1.1 Software
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Services
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Trade Management Software Market, By Deployment
9.1. Trade Management Software Market, by Deployment, 2022-2030
9.1.1. On-premise
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Cloud
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Trade Management Software Market, By End-use
10.1. Trade Management Software Market, by End-use, 2022-2030
10.1.1. Energy
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Government
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Manufacturing
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Retail
10.1.4.1. Market Revenue and Forecast (2017-2030)
10.1.5. Transportation & logistics
10.1.5.1. Market Revenue and Forecast (2017-2030)
10.1.5. Others
10.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Trade Management Software Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Component (2017-2030)
11.1.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.1.3. Market Revenue and Forecast, by End-use (2017-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.1.4.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.1.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.1.5.3. Market Revenue and Forecast, by End-use (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.2.3. Market Revenue and Forecast, by End-use (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.4.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.2.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.2.5.3. Market Revenue and Forecast, by End-use (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.2.6.3. Market Revenue and Forecast, by End-use (2017-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.2.7.3. Market Revenue and Forecast, by End-use (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.3.3. Market Revenue and Forecast, by End-use (2017-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.4.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.3.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.3.5.3. Market Revenue and Forecast, by End-use (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.3.6.3. Market Revenue and Forecast, by End-use (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.3.7.3. Market Revenue and Forecast, by End-use (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.4.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.4.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.4.5.3. Market Revenue and Forecast, by End-use (2017-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.4.6.3. Market Revenue and Forecast, by End-use (2017-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.4.7.3. Market Revenue and Forecast, by End-use (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.5.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.5.3. Market Revenue and Forecast, by End-use (2017-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.5.4.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.5.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.5.5.3. Market Revenue and Forecast, by End-use (2017-2030)
Chapter 12. Company Profiles
12.1. Amber Road, Inc.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. The Descartes Systems Group, Inc.
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Livingston International, Inc.
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. MIQ Logistics, LLC
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Integration Point, Inc.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms